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VeChain (VEN) Counting Down The Days Until The Launch Of VeChain Thor

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VeChain
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VeChain is close to completing one of its most symbolic milestones – launching their own main net dubbed VeChain Thor. Apart from launching their own main net, VeChain foundation will have a token swap between the current asset VEN and the future token VET, which would be the native token of the new VeChain Thor network.

VeChain Thor is only Days Away

VeChain Thor is only several days ahead and in that spirit, the VEN community seems to be pretty ecstatic, while the public is waiting for the main net to be finally launched into the public, the team behind VeChain foundation is working on final preparations for the main net launch and the live version of VeChain Thor.

During the final preparations, among which beta testing of the upcoming network took place, the team behind VEN has also gone forward with announcing several partnerships that will come as integral for the future development of the upcoming main net Thor.

VeChain foundation has also published an official timeline to help the community follow up with the launching of the new main net, and in accordance with the published timeline, VeChain Thor should get to see the first public user on June 30th, that way entering July as well as a brand new stage for VEN, soon to become VET token.

The main net is said to be officially initiated with authority Masternode deployment for the live net, followed by the generation of genesis block, which would at the same time mark the birthday of VeChain Thor. On the same day, a snapshot will be taken on Ethereum with X-Node monitoring pauses.

The team has also added on the published timeline that the new wallet for VeChain Thor should come out on July 9th, while X-Node Binding service should become available on the same day.

Somewhere in mid-July, the token swap should be concluded with VET tokens ready for trading on exchanges where available. The exact time for when the live trading of VET tokens will begin is yet to be arranged with the exchange platforms that support VeChain trading and transactions.

It is expected that the exchanges will complete the process of token swapping by the end of July, which means that once exchanges are done with their part, VeChain Foundation will be providing token swap services to their users.

August 1st is marked on the provided timeline as the day when X-Node status monitoring is ought to resume, however, the team stresses out that the initial day for the mentioned resume can easily change as it all depends on how successful the token swap turns out to be.

Concluding the timeline of the VeChain Thor main net launch, Ledger integration with VET is scheduled somewhere in August while the exact date is yet to be determined based on the overall progress of the milestone completion as described in the timeline.

For now, everything seems to be on schedule, so the VEN community can expect to see VeChain Thor launched in several days from now, on June 30th.

In addition to the main net launch and the token swap from VEN to VET, all holders with a minimum of 10,000 VEN can become eligible for VET Strength Masternode while holding the given number of tokens in the time of the snapshot.

What Changes is VeChain Foundation Expecting with Thor Main Net?

Thor Main Net is said to be more scalable and more stable in oppose to the current chain that VEN uses. In oppose to the current chain used for transacting and operating with VEN currency, the new chain, Blockchain X, should provide an increased level of scalability.

This is the fact because the team is planning to have a vast number of smart contracts being operated with on the upcoming VeChain Thor main net, which is why the network is designed to be able to acquire a certain level of stability in the market for the future VET tokens as well.

VeChain Thor will act as Blockchain-as-a-Service (BaaS), working in many ways as a supply chain. However, the Thor main net is said to have the main goal of becoming one of the largest platforms for deploying decentralized applications.

In order to diminish the need for trust between two different parties when it comes to supply chain industry, VeChain Thor will be providing that trust factor in order to provide the needed technology for tracking down goods.

VEN will be consequently transformed into VET in the upcoming ending stage of the token swap, and on the Thor network, VET tokens will be used for powering up business ventures where the advantage on the network will be given to business owners using VET tokens.

Just like NEO, one of the well-known smart contract platforms produces GAS tokens, that is how the new VeChain Thor main net will be producing THOR that VET holders will be given for running applications on the platform and operate with smart contracts.

The network should consequently become one of the largest ecosystems for decentralized applications, alongside with providing a more stable rate of growth for VET tokens in the market.

VeChain (VEN) Performance

Only a couple of days away from the launching of VeChain Thor main net, VEN is down by -2.94% against the dollar due to the latest change in the market where the majority of crypto assets are down in the red once again after barely two days of rising up and trading in the green.

After the recent change in its price, VEN can be traded at the price of 2.62$.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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Blogs

TRON (TRX) Back In The Crypto Top 10

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Tron
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For three weeks now, the crypto market was in a free fall. There was one moment when it seemed like the coins are finally bouncing back, and Bitcoin managed to climb back to $4,200. However, this uptrend was only temporary, and the coins dropped once again as December started.

Not a lot of coins are doing well these days, and almost every single one is trading in the red. Bitcoin is currently priced at $3,864, and the total market cap of the crypto space is barely over $123 billion. As expected by many, the bearish trend is still active, and seemingly at full strength. However, there are a few coins in the vast crypto space that are actually managing to grow in these unfriendly conditions, with the most notable one being TRON.

TRON on the rise

At the time of writing, TRON is also trading in the red. Although, only hours ago, this was not the case. Even now, TRX is losing only around 0.50% of its value, while all other coins around it are dropping by 4-5% on average.

TRON’s increase, while it lasted, was not big. However, considering the current state of the market, it was easily enough for the coin to make a big step, and actually improve its position on the list of largest cryptos. After months of waiting at the 11th spot,…

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Altcoins

MobileGo (MGO) – An Internet Gaming Pioneer

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MobileGo
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Although I love trading cryptocurrencies as much as anyone, I’m far more interested in analyzing the impact that blockchain technology can have on the business landscape.  After all, blockchain’s potential was the main catalyst behind the surge in trading volume last year.  While many industries will be forever changed through blockchain applications, the gaming industry will be the focus of this article.

The first thing my parents would think of upon hearing the word “gaming” is Nintendo.  And while video games do make up a considerable percentage of gaming sales, the industry has grown far beyond that.  Several years ago, ESPN aired an episode of E:60 that went inside the world of professional video game competitions.  One team, Dota2, was on a quest for a piece of an $18.4 million tournament prize pool.  Yes, $18.4 million for people who play games.  Since then, the industry has grown beyond anyone’s wildest imagination.  And one company, MobileGo, appears to be taking full advantage of that opportunity.

MobileGo’s MGO token is an Ethereum based ERC223 token that was developed to usher in a new era in the world of internet gaming.  The company’s main goal is to turn MGO into the world’s leading currency for the more than 2.6 billion gamers that currently exist.  It is expected that mass adoption will occur as game developers continue to grow their…

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Elite